Veritrans Merchant Services Review: Fees, Complaints & Lawsuits

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Veritrans Merchant Services
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Veritrans Merchant Services

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Offering Merchant Services Since 2001

Founded in 2001, Veritrans Merchant Services is a merchant account provider headquartered in Houston, Texas. Veritrans should not be confused with an Indonesia-based e-commerce company that goes by the name of Veritrans Indonesia, as it appears that the two companies are unrelated.

Veritrans Payment Processing

Veritrans processes all major debit and credit cards for most business types. Additionally, the company provides virtual terminal services through a partnership with Authorize.Net. Their services include EMV card readers and swipers, POS solutions from Clover and Linga, mobile solutions, access to a payment gateway, virtual terminals, cash advances, and gift and loyalty programs.

Veritrans Headquarters & Ownership

Veritrans is a registered ISO/MSP of Wells Fargo Bank in Concord, California, and PNC Bank, N.A., Pittsburgh, PA, and the last known headquarters was located at 1300 Bay Area Blvd., Ste B110, Houston, Texas 77058. Currently, they list a PO box address at PO Box 234 League City, TX 77574. Jeff Adcock was the most recently listed president of Veritrans and Selena Denbow is listed as the managing member.

Veritrans Merchant Services Review Table of Contents

  • Costs & Contract: Veritrans appears to offer variable contract terms that depend on each merchant’s business type and processing history as well as virtual terminal services through Authorize.Net
  • Complaints & Service: Veritrans complaints number fewer than 10 on public complaints forums.
  • BBB Rating: Veritrans has an “A+” with the Better Business Bureau and has received 0 complaints in the past 3 years.
  • Sales & Marketing: Veritrans does not appear to hire independent sales representatives and has not received any complaints about its sales practices.
Veritrans payment processing

Veritrans offers standard payment processing services

Should You Trust Veritrans Merchant Services?

Lawsuits, Reviews & Complaints

Here's Who We Trust.

Complaint Summary

Total Online Complaints
<10
Live Customer Support
Yes
Most Common Complaint
N/A

Clean Complaint Record

We are currently unable to locate any Veritrans Merchant Services reviews that describe the company as a ripoff or a scam. In fact, the company has zero publicly posted complaints across all consumer protection websites. This is an impressive complaint volume for a company that has been in business since 2001, and it indicates that the company provides reliable customer support that effectively resolves merchant complaints in-house. If you have your own Veritrans Merchant Services review to make, please do so in the comments below.

Veritrans Merchant Services Lawsuits

We have not found any outstanding class-action lawsuits or FTC complaints filed against Veritrans Merchant Services. Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.

Veritrans Merchant Services Customer Service Options

The Veritrans website lists dedicated 24/7 phone support lines, but it is possible that the company outsources at least some of its customer support to a larger processor.

We have located multiple Veritrans customer service numbers:

(866) 474-4144 – Toll-Free General Customer Service
(281) 474-4144 – Office

Veritrans also offers a customer service email at [email protected]

At this time, Veritrans Merchant Services does not qualify as a top customer service processor.

Is the BBB Rating for Veritrans Merchant Services Accurate?

Better Business Bureau Profile

See Which Processors Offer No Monthly Fees And No Contracts.

BBB Summary

Total Complaints
0
Resolved Complaints
0

No BBB Complaints

Veritrans Merchant Services is not an accredited business with the Better Business Bureau. As of this review, the company has an “A+” rating with the BBB and has had 0 complaints filed against it in the last 36 months. The company has also not received any informal reviews on its BBB page, but it should be noted that these reviews are not subject to verification by the BBB.

An “A” Performance

Since it is our philosophy that “A” ratings should be reserved for companies with 0 complaints, we agree with the BBB’s rating in this case. Merchants should be aware, however, that there are good reasons to be skeptical of the BBB’s rating system.

How Expensive is Veritrans Merchant Services Service?

Rates, Fees, and Contract Terms

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Cost Summary

Swiped Rate
1.00% - 4.99%
Keyed-in Rate
1.00% - 4.99%
Virtual Terminal Rate
2.9% + $0.30
Gateway Fee
$25 Per Month
Batch Fee
$0.10
Early Termination Fee
Undisclosed
PCI Compliance Fee
Undisclosed
Equipment Lease Terms
N/A

Veritrans Contract Terms

There is very little information available about the standard Veritrans contract at this time. The company is likely a reseller of a much larger processor like First Data (now Fiserv), but its website does not clearly disclose which processor it uses. We are currently unable to locate any Veritrans Merchant Services complaints that mention high rates, undisclosed early termination fees, PCI Compliance fees, or lengthy contract terms. A company representative has also informed us that VeriTrans does not lease equipment to merchants.

Virtual Terminal Pricing

The Veritrans website does reference that it offers virtual terminal services powered by Authorize.Net. Typically, merchants who use Authorize.Net’s payment gateway are charged a $25 monthly gateway fee, a $0.10 batch fee, and a 2.9% plus $0.30 per-transaction fee.

These figures are those offered directly by the company. Authorize.Net allows resellers to set prices as they please. However, these prices serve as a baseline for merchants who may negotiate a lower rate for these services than that which they are offered.

No Contract Complaints

The overall lack of specific Veritrans Merchant Services complaints about the company’s contract inclines us to award it an “A” in this category, but merchants are still encouraged to carefully read all terms included in their agreements. It is unclear whether Veritrans’ contract terms can compete with the cheapest merchant accounts. If you have any specific knowledge of the standard Veritrans contract, please leave that information in the comment section of this review.

Veritrans payment gateway

Veritrans offers access to the Authorize.Net payment gateway

Does Veritrans Merchant Services Use Deceptive Marketing?

Advertising & Sales Strategy

Audit Your Current Statement To Find Its Hidden Fees

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Key Points

Employs Independent Resellers
No
Advertises Deceptive Rates
No
Discloses All Important Terms
No

No Sales Complaints

It is unclear at this time whether Veritrans employs an in-house sales team or partners with ISOs, resellers, and independent agents to market its services. As a general rule, the use of independent sales entities can result in increased complaints about a company, since this kind of sales force is difficult to train and regulate. We are currently unable to locate any negative Veritrans reviews that accuse the company’s sales staff of unethical conduct. This compares favorably to our list of best credit card processors.

Serving High-Risk Merchants

According to its website, Veritrans also focuses on providing services to high-risk merchants. Many different factors determine the risk designated by merchant account providers. A company’s size, the frequency of chargebacks, its credit history, and the industry of its business are all factors taken into consideration.

According to the Veritrans website:

Veritrans handles High Risk Merchants based on each individual service and their history. We promise to judiciously assess each account presented based on the type of service offered, longevity of company and the company’s ownership. We strive to qualify most merchants, but unfortunately some merchants will represent too great a risk for even Veritrans to represent. And if your High Risk account is granted service, you may find your rates to be slighter higher than the average business would be quoted, however this is not unusual.

Veritrans account executives will gladly assess your account and services rendered with our free, no obligation. If we are able to provide your business with an account, even if it is high risk, you will be assured of the best rates available for your account, and no hidden fees.

Companies that are deemed to carry high-risk should thoroughly review the best merchant account providers for their needs.

No Deceptive Ads

Veritrans also does not appear to engage in deceptive advertising strategies in its official materials. We are therefore awarding it an “A” in this category. However, if you suspect that there are undisclosed Veritrans Merchant Services fees added to your Veritrans contract, we recommend seeking a third-party statement audit to eliminate hidden costs.

Does Veritrans Merchant Services Deserve Your Business?

Review Summary & Our Thoughts

A Solid Merchant Services Provider

Veritrans Merchant Services rates as a reliable credit card processor according to our rating criteria. Although little specific information is available about its hiring practices and contract terms, the company is showing zero complaints across all consumer protection websites. Even when dealing with highly rated merchant account providers, merchants are advised to strongly negotiate all contract terms and to compare its contract pricing to top-rated payment processors.

Customer & Employee Reviews

What Others Are Saying About Veritrans Merchant Services

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1 Responses

  • Tim Cox

    Hi Phillip,
    Once again, thank you so much for the great write up. You’re right, there are no complaints, and that is impressive. Was that way when when I got here 10 yrs ago, March.

    Swiped Rate 1.00% – 4.99% – There are a few lower, and small ticket of course can be higher, but for the most part this is correct. We only use Interchange Plus, and those rates would be a reflection of Effective Rates.

    Keyed-in Rate 1.00% – 4.99% – Same as above.

    Virtual Terminal Rate 2.9% + $0.30 – There are no virtual terminal rates, it’s all based on Interchange Plus pricing on the Merchant Account. Most of the time, we pass gateway cost through, but it is up to the sales rep.

    Gateway Fee $25 Per Month – $15 or less, most of the time under $10.00 as Auth.net is not our only gateway partner. Some others, ePN, NMI, Swipe Simple… I don’t know of anyone that gets charged $25.00

    Batch Fee $0.10 – Most of the time it’s $0.00, but it is up to the agent. I’ve always chided agents for charging batch fees.

    Early Termination Fee Undisclosed – None

    PCI Compliance Fee If it’s billed monthly, it’s $7.95. Annually is $89.00

    Equipment Lease Terms N/A

    We generally do not hire outside agents, but we do still have quite a few from the past. They have upheld Veritrans standards of ethics.

    Thanks again Phillip!

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Phillip Parker
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